Guideline Value for KUMARSWAMY MUDALI STREET

Kumarswamy Mudali Street guideline value

The current guideline value of Kumarswamy Mudali Street is Rs 3,800 per sq.ft, effective from 1 July 2024. This street is located in Perambur village, under the Purasaivakkam SRO, and is classified as Residential Class II Type - II.

How the guideline value of Kumarswamy Mudali Street has changed

The guideline value for Kumarswamy Mudali Street has undergone several revisions since 2002. In 2002, the value was Rs 509 per sq.ft, which increased to Rs 558 per sq.ft in 2003, marking a change of +10%. The value then rose significantly to Rs 700 per sq.ft in 2007, which was a +25% increase. A substantial jump occurred in 2012, where the value reached Rs 3,500 per sq.ft, reflecting a remarkable +400% change from the previous revision. The value remained unchanged at Rs 3,500 per sq.ft until 2023.

In 2023, the guideline value was revised to Rs 3,500 per sq.ft, and in 2024, it increased to Rs 3,800 per sq.ft, resulting in a +9% change. Overall, from 2002 to 2024, the guideline value has increased by +647%. The register has no figure for Kumarswamy Mudali Street in 2017.

Guideline values in Perambur

In Perambur village, there are 1,114 streets under the Purasaivakkam SRO that have a 2024 guideline value ranging from Rs 1,600 to Rs 7,100 per sq.ft. The median value for these streets is Rs 2,700 per sq.ft, placing Kumarswamy Mudali Street's 2024 figure above this median.

• Kutty Thambiran Street: Rs 4,900 per sq.ft (2024)
• Kutty Thambiran Street 1st Lane: Rs 4,300 per sq.ft (2024)
• Kutty Thambiran Street 2nd Lane: Rs 4,300 per sq.ft (2024)
• Kutty Thambiran Street 3rd Lane: Rs 4,300 per sq.ft (2024)
• K.V.K Samy Street: Rs 2,700 per sq.ft (2024)
• Kulakkarai Salai (New): Rs 3,200 per sq.ft (2024)

Stamp duty and registration fee for property in Kumarswamy Mudali Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,800 per sq.ft, the total guideline value would be Rs 38,00,000. The stamp duty at 7% would amount to Rs 2,66,000, and the registration fee at 2% would be Rs 76,000, bringing the total fees together to Rs 3,42,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for accurate calculations.

Which Sub Registrar Office covers Kumarswamy Mudali Street?

The Sub Registrar Office that covers Kumarswamy Mudali Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Perambur

The guideline value plays a crucial role in property transactions in Perambur. It is used to determine the stamp duty and registration fees that need to be paid during the registration process. Buyers and sellers must be aware of the current guideline value to ensure compliance with legal requirements.

When a property is sold, the guideline value is considered to assess the transaction value. This means that the stamp duty is calculated based on the higher of the guideline value or the actual sale price, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Kumarswamy Mudali Street?

The current guideline value of Kumarswamy Mudali Street is Rs 3,800 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since 2002, the guideline value has increased from Rs 509 per sq.ft to Rs 3,800 per sq.ft in 2024, reflecting an overall increase of +647%.

What is the land classification of Kumarswamy Mudali Street?

Kumarswamy Mudali Street is classified as Residential Class II Type - II, indicating its use for residential purposes.

Where can I find the Sub Registrar Office for this street?

The Sub Registrar Office for Kumarswamy Mudali Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

How is stamp duty calculated for properties in Kumarswamy Mudali Street?

Stamp duty for properties in Kumarswamy Mudali Street is calculated based on the higher of the guideline value or the sale price. For example, a property valued at Rs 38,00,000 would incur a stamp duty of Rs 2,66,000 at 7%.